Celsius grew organically by only 6%. Personally, I’m more interested in that international growth. It looks good now, but they don’t disclose at all whether part of that growth is Alani Nu or Rockstar.
How many of you are familiar with the background of Celsius’s European operations?
The Finnish company Func Food, whose brands include Fast, Cocovi, and Fitfarm, acquired People’s Choice Ab in 2015, which was Celsius’s Nordic distributor. Celsius Inc then acquired Func Food in 2019, and the name was later changed to Celsius Europe Oy. In principle, the European operations are managed from Finland, although in practice, the Nordic organization is very Sweden-centric. At least Fast is still part of the product portfolio and has not been sold off to this day.